Bakkt to expand crypto offering to include Ethereum

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The Bakkt digital asset market announced on Friday that users and partners will soon be able to buy, sell and hold Ether (ETH). Users will also be able to send Ethereum to family and friends through its app. Institutional clients can also choose the Bakkt Warehouse for ether custody.

Related reading | Bakkt and CME launch new products, Bitcoin price reacts accordingly

The platform adds Ethereum to bitcoin, which it already offers. With these two coins, its users have access to two cryptocurrencies representing more than half of the total market value of all cryptocurrencies. However, the company did not give a specific date when the Ethereum offering will be available to its users.

The American company also offers several other crypto services. They include a monthly Bitcoin futures contract, crypto payments with a Visa debit card, as well as a Bakkt card with Apple or Google Pay.

Offer Ethereum to users

Bakkt’s decision to add Ethereum to its offering comes amid growing interest and adoption in cryptocurrencies.

In a survey conducted by the platform, nearly half of those polled said they had purchased some form of cryptocurrency in the past year. Others have also expressed interest in adopting the asset class before the end of the year.

ETH price at $ 4,494.99 | Source: ETHUSD on TradingView.com

Ethereum has become very popular over the years, and it is currently the second largest crypto with a market cap of around $ 532 billion. sending, Bakkt facilitates digital commerce flows in line with the company’s mission to connect the digital economy.

Speaking on the platform’s latest announcement, CEO Gavin Michael said: “At Bakkt, providing flexible opportunities for users to profit from their digital assets is a primary consideration, and the addition of Ethereum brings a popular and growing cryptocurrency to our list. “

“Bakkt users have already appreciated the app’s capabilities to leverage bitcoin and we are confident that our addition of Ethereum will complement our growing ecosystem of partners and assets.”

Bakkt provides easy access to crypto

The company’s mission is to expand the adoption of crypto. It began operations as a public company on the New York Stock Exchange last month following a merger with VPC Impact Acquisition Holdings.

The company partnered with Google in October to allow users to spend their crypto with the Bakkt Visa debit card at all merchants who use Google Pay. It also uses Google Cloud to create new analytics with artificial intelligence, machine learning, and geolocation.

Related reading | Mastercard promotes investment in crypto card integration

Additionally, in October, it partnered with Mastercard to enable institutions to offer a wide range of cryptocurrency solutions and services to customers. This partnership has boosted Bakkt shares to over $ 25 per share.

Image presented by Financial Times, chart by TradingView.com

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